Small Business Hiring Declining Since May: Intuit

Small business employment has been declining since May and revenues have been dropping since February, Intuit reported today.
The October 0.05 percent decrease in hiring continues a mild decline that began in May 2012.
From March 2010 to May 2012, small business employment grew by 150,000 jobs, totaling 19.9 million.
But since May, small business hiring has fallen by 65,000 jobs, bringing the total size of the recovery to 85,000 small business jobs.
Intuit, the financial software and online services company, gathered information from 170,000 small businesses nationwide. The small businesses use the company’s Intuit Online Payroll and QuickBooks Online Payroll products.
Intuit said it has expended its small-business hiring study to “more closely aligns with national data, and as a result, one that better predicts the state of American small business employment than before.”
Nationwide, Intuit reported a net loss (seasonally adjusted) of 10,000 small business jobs in October.
Intuit said that small-business workers at surveyed companies  were paid an average of $2,791 a month in October, down 0.1 percent from the previous month.
And monthly hours worked averaged 107.1 hours in October, down 0.7 percent.

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